I am intrigued about the Luxury Real Estate Market for several reasons.

One of those reasons is a selfish one because I would rather sell one good high priced property than several small priced homes.

Second I would find selling a Luxury Home a challenge and I am always up for the challenge.

Third I think I have the knowledge and expertise to serve these clients well.

But before I approach anyone I think I have to be knowledgable about the Luxury Real Estate Market in my area so here are some interesting facts.

Top 10 Closed Home Sales in 2015:

Days on Mkt. $ Sale Price Area/ County

53 $6,200,000 Wilmette/ Cook

22 $6,100,000 Winnetka/ Cook

265 $6,000,00 Lake Forest/ Lake

272 $5,972,483 Chicago/ Cook

85 $5,500,000 Chicago/ Cook

446 $4,960,000 Hinsdale/ Dupage

262 $4,883,623 Chicago/ Cook

196 $4,880,000 Woodstock/ McHenry

1 $4,818,784 Chicago/Cook

16 $4,750,000 Chicago/Cook

Top 10 Expired Homes in 2015

Days on Mkt. $ Last List Price Area/ County

395 $11,200,000 South Barrington/ Cook

365 $8,985,000 Chicago/Cook

30 $7,980,000 Chicago/Cook

1089 $7,900,000 St Charles/Kane

183 $7,900,000 Winnetka/ Cook

366 $7,750,000 Winnetka/Cook

366 $7,000,000 Hinsdale/Dupage

157 $6,295,000 Winnetka/Cook

461 $6,200,000 Lake Forest/ Lake

91 $599,999,000 Highland Park/Lake

Summary/ Conclusion:

There are alot Luxury Homes in my market. 7 out of 10 homes sold were in Cook County and 6 out 10 expireds were in Cook County.

The Highest priced home sold was $6,200,000 vs the Highest expired was $11,200,000

While there appears to be a market for Luxury Homes there also is a price point on what is selling in the MLS. The Avgerage Sale is $4,903,000 and the Average Expired is $7,720,000,

In order for these expireds to sell they need to adjust their asking price to sell in the MLS or Market to buyers in a different way.

This entry was posted
on Friday, December 11th, 2015 at 8:01 am and is filed under For Sellers.
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